Patrick Whitesell’s New Business to Receive $250 Million Investment from Silver Lake

Endeavor to Go Private with $250 Million Investment and Asset Sales: CEO Ari Emanuel and COO Mark Shapiro to Receive Compensation Package

Endeavor, a leading entertainment and media company, announced that it plans to take the company private with an investment of $250 million in seed equity. The new business, founded and controlled by executive chairman Patrick Whitesell, will focus on investing in and providing services to companies in the entertainment, media, and sports industries; developing, producing, financing, and exploiting film, television, and digital audio-visual content; talent management; and consulting with other entertainment companies.

According to an SEC filing today, Silver Lake Capital will be leading the privatization of Endeavor in what is expected to be the largest in media and entertainment history. The equity value of the acquisition is pegged at $13 billion. After three years as a public company, big investors weren’t happy with the stock price valuation.

In addition to this news about the privatization process for Endeavor, new employment letters were included in the filing for CEO Ari Emanuel and COO Mark Shapiro. The document also refers to potential asset sales except for TKO Group and WME. However, details about how or when these asset sales would occur remain unclear.

Emanuel will receive a $25 million “asset sale transaction bonus” following the sale or disposition of certain specified assets. He will also be given ownership of one of Endeavor’s private planes as part of his compensation package. Meanwhile, Shapiro’s base salary will rise to $7 million per year starting April 2nd 2024 with a guaranteed annual bonus equal to $15 million.

Leave a Reply

Houthi rebels suspected of attacking undersea cables in Red Sea: Seabed warfare in question Previous post The Dark Side of the Deep: The Dangers of Seabed Warfare and the Implications for Global Connectivity
Leading Chicago Business Executive to Speak at SIU’s Paul Simon Institute Next post Achieving Success Through Persistence and Philanthropy: A Fireside Conversation with John W. Rogers Jr.